We get a lot of questions about access to capital from Founders of early-stage tech startups. It often is one of the first questions we hear when we meet with someone interested in pursuing their idea for a product. There is a lot of work to be done before seeking angel investment or a seed round for your company - like problem/solution fit, minimum viable product development, and even preparing to sell to customers (and we’re happy to support your efforts through the Preflight program.)
In this article Boris Wertz, founding partner of Version One Ventures shares some of the patterns he has observed while sitting on the boards of the companies in their portfolio of investments, from pre-seed to Series B, and beyond. Version One Ventures has ten years of experience and comprehensive portfolio of tech investments including Jobber, Nexopia, TechVibes, IndieGoGo, and Indochino.
What I like about Boris’ advice is it’s incredibly practical, and what I’ve watched happen in our local community when startups successfully secure funding and then use it to prepare themselves for rapid growth. As I go through Boris’ checklist of what to focus on (and not focus on), three, in particular, stand out.